Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Sr. No Activity Risk Audit Steps
loss making corporations
• If, yes obtain details of the steps taken
F
Companies Act
10 Provisions under Companies Act • Non adherence to rules and regulations
• Inefficient performance of company
• The accounting records, books of
account and financial results may not be
technically accurate with reference to the
Accounting Standards.
• There may have been misstatements in
or window dressing of the financial
statements.
• Non compliance with the objectives for
which the company was established.
• Occurrence of frauds, misappropriation,
and other acts of omission and
commission.
• Verify whether the provisions of the Companies‘ Act, 1956 or
the relevant statutes governing the company concerned have
been complied with
• Verify whether a declaration has been submitted by members of
the company (who do not hold a beneficiary interest in the
concerned share) in the prescribed form specifying the name of
the person who holds a beneficial interest in the share
• Verify whether a new declaration is submitted in case a change
in the beneficial interest in the shares occurred
• Verify whether the directives issued by the Reserve Bank of
India and the provisions of section 58-A of the Company‘s Act
have been complied with in case the company has accepted
deposits from the public
• Verify whether cost records by the company are maintained as
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